Time Inc. (TIME - Free Report) , one of the leading media companies, posted second-quarter 2016 adjusted earnings of 22 cents a share that surpassed the Zacks Consensus Estimate of 16 cents but fell 18.5% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 and 2017 has been stable over the past 30 days. If we look at Time’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 27.6%.
Revenues: Time Inc. generated revenues of $769 million that decreased 0.5% year over year and also fell short of the Zacks Consensus Estimate of $785 million. Foreign currency headwinds and fall in print and other advertising revenues as well as decline in circulation revenues hurt the top line. These were offset by growth in Digital advertising revenues. Management expects revenues to be flat to up 1.5% in 2016.
Key Events: During the quarter, the company bought back 2.17 million shares at a weighted average price of $15.56 per share.
Zacks Rank: Currently, Time Inc. carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Time Inc. (TIME - Free Report) , one of the leading media companies, posted second-quarter 2016 adjusted earnings of 22 cents a share that surpassed the Zacks Consensus Estimate of 16 cents but fell 18.5% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 and 2017 has been stable over the past 30 days. If we look at Time’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 27.6%.
Revenues: Time Inc. generated revenues of $769 million that decreased 0.5% year over year and also fell short of the Zacks Consensus Estimate of $785 million. Foreign currency headwinds and fall in print and other advertising revenues as well as decline in circulation revenues hurt the top line. These were offset by growth in Digital advertising revenues. Management expects revenues to be flat to up 1.5% in 2016.
Key Events: During the quarter, the company bought back 2.17 million shares at a weighted average price of $15.56 per share.
Zacks Rank: Currently, Time Inc. carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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